How can Microstrategy borrow billions at 0% to continue buying bitcoin and what does this reveal about market players’ expectations.

It’s been a wild ride lately for Michael Saylor, executive chairman of MicroStrategy, once a software company but now really a leveraged play on Bitcoin. The numbers are mind-boggling. Shares of MicroStrategy have soared 459% year to date (versus 26% for the S&P 500),

Since 2020, Saylor has leveraged his publicly traded company to amass over $14 billion in paper profits by buying more than $30 billion worth of Bitcoin, positioning MicroStrategy as the largest corporate holder of the cryptocurrency. It’s a strategy that has drawn admiration from Bitcoin maximalists and skepticism from traditional investors alike.

Key Takeaways MicroStrategy shares continued to move higher along with the price of bitcoin, which traded at more than $98,000 Friday morning.The business intelligence services provider is the largest corporate holder of bitcoin,

MicroStrategy buys more bitcoin, and Benchmark analyst’s new Street-high stock price target implies more than 60% upside.

The large-cap token climbed on Thanksgiving, raising the probability that crypto stocks will rise when markets reopen on Black Friday.